This commentary appeared in the print edition of the Jan. 6, 2020, Journal of Commerce Annual Review and Outlook.
The past year presented the shipping industry with unprecedented challenges related to an ever-shifting trade climate and dynamic global supply chain, both of which will remain dominant themes in 2020.
However, it would be prudent to focus on incremental performance improvements within our spheres of influence. The key areas of focus for the Port of Prince Rupert are to continue to enhance the competitive advantage and strong value proposition of the gateway through continued improvement in supply chain efficiencies and timely capacity expansion supported by progressive environmental stewardship initiatives and digital business tools.
The Port of Prince Rupert will have a record year in container volumes at nearly 1.2 million TEU in 2019. Through a pragmatic, phased, and collaborative approach with our partners DP World and Canadian National Railway, we believe we can exceed 4 million TEU. The next five years will see significant investments in terminal expansion, import and export logistics developments, and critical gateway road and rail infrastructure to maintain the resilience and velocity that have come to define the Rupert advantage.
The increasing value of port digitization and data sharing means more precise data-driven decisions and operational optimization to inform efficiency today and better planning for tomorrow. The Prince Rupert Port Authority has been partnering across our industry to drive value and advantage through technological innovation and digital business initiatives.
Our environmental stewardship initiatives, including shore power, vessel incentive programs to reduce emissions and noise, and progressive land use and development planning, are reducing the impacts of a growing gateway, meeting the expectations of our communities, and contributing to our future sustainability.
Together, these efforts strongly position the Port of Prince Rupert as a strategic gateway for trans-Pacific trade well into the future.